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The National Securities Depository Ltd (NSDL) on Friday said the value of securities held in dematerialized form at the depository reached Rs 500 lakh crore (USD 6 trillion) in September 2024.
The leading depository took 18 years to reach Rs 100 lakh crore in June 2014, another 6 years to touch Rs 200 lakh crore in November 2020 and a span of 4 years to hit the milestone of Rs 500 lakh crore, a statement said.
"We thank investors, market participants, regulators and other stakeholders on this historic occasion," S Gopalan, Interim MD of NSDL said in a statement.
NSDL is a Sebi-registered market infrastructure institution offering a wide range of products and services to the financial and securities markets in India. Following the introduction of the Depositories Act in 1996, NSDL pioneered the dematerialisation of securities in India in November 1996.
Last month, the depository received Sebi's go-ahead to launch its initial public offering (IPO). The clearance from the markets regulator came more than a year after the company submitted its preliminary IPO papers to the regulator in July 2023.
The proposed IPO is a complete offer-for-sale of more than 5.72 crore equity shares by shareholders, including National Stock Exchange of India (NSE), State Bank of India (SBI), and HDFC Bank, as per the draft red herring prospectus (DRHP).
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